ExxonMobil Chemical to sell BOPP business

9:03 AM MST | November 9, 2012

Jindal Poly Films (JPFL; New Delhi), a flexible packaging firm belonging to the BC Jindal Group, has reached agreement to acquire ExxonMobil Chemicalâ€™s global biaxially oriented polypropylene (BOPP) business. Terms were not disclosed. ExxonMobil retained the services of JPMorgan earlier this year to assist it with a possible sale of the business. JPFL is buying the entire business, which has 1,500 employees and includes 5 BOPP production sites in the United States and in Europe. Jindal operates the single-largest site for production of BOPP and biaxially...